💊 Pharma Grows 7% YOY. $1.3B+ VC Funding.
Impact Capital Markets #121 looks at our Pharmaceutical Stock Index, major impact deals, M&A, and upcoming economic releases.
Hei 🏔️
📈 Today's Global Economic Update: Japan's inflation rate increased to 2.8% from 2.5% in April, propelled by a notable increase in electricity prices after the energy subsidies ended. The data comes as minutes from the Bank of Japan's June meeting highlighted concerns about potential inflationary overshooting.
🔬 Deal of the Day: BillionToOne, a precision diagnostics company, raised a $130M Series D to expand and scale its prenatal and oncology businesses.
What's New?
💊 Pharmaceutical. Pharma grows 7% YOY
💰 Funding. Precision diagnostics, e-grocery services, AI drug formulation + more
💼 M&A. Medical devices and solar solutions
📅 Economics. US GDP, Euro area inflation, balance of trade + more
💊 Pharma Grows 7% YOY
HolonIQ’s Pharma Index has risen 7% over the past 12 months. Eli Lilly ($840B MCap) and Novo Nordisk ($488B MCap) have driven growth with their GLP-1 drugs for obesity treatment, reflecting a 90% and 82% YOY stock price growth, respectively. Strategic initiatives from pharmaceutical companies, such as Eli Lilly's direct-to-consumer website and Novo Nordisk's partnerships, are aiming to expand market reach. Combined sales of their diabetes and obesity drugs are projected to reach approximately $36.9B by 2024, with expectations of nearly doubling by 2028.
Despite challenges such as high R&D investments and revenue pressures from declining COVID-19 treatment sales affecting major players like Pfizer, Moderna, and Merck, the outlook for biotech and pharma stocks in 2024 remains optimistic. Anticipated advancements in AI-driven technologies are poised to revolutionize biotech, enhancing drug development efficiencies and clinical study designs, further bolstering growth prospects for the sector.
💰 Funding
🛒 Zepto, an Indian e-grocery provider, raised a $665M Series F from Lightspeed Venture Partners and Avenir Growth Capital to expand its market reach.
🔬 BillionToOne, a California-based precision diagnostics company, raised a $130M Series D from Premji Invest to expand and scale its prenatal and oncology businesses.
💊 METiS Pharmaceuticals, a Chinese AI-driven drug formulation company, raised a $100M Series C from CICC Capital to advance its AI-driven drug delivery and discovery platform.
🦾 Vecna Robotics, a Massachusetts-based robotics and technology company, raised a $100M Series C to fund new workflow-specific innovations
🎥 HeyGen, a California-based AI video generation platform, raised a $60M Series A from Benchmark to scale its operations.
🛍️ Daydream, a California-based AI-powered search and discovery shopping platform, raised a $50M Seed from Forerunner Ventures and Index Ventures to further enhance shopping with their fashion search engine.
🛡️ Amplify Life Insurance, a California-based digital insurance platform, raised a $20M Series B from Crosslink Capital and Anthemis to launch a suite of proprietary products.
💼 M&A
🔬 Boston Scientific Corporation, a Massachusetts-based medical technology company, acquired Silk Road Medical, a California-based medical device company.
☀️ Nextracker, a California-based Intelligent solar solutions provider, acquired Ojjo, a California-based energy company.
📅 Economic Calendar
US GDP, Euro Area Inflation, Balance of Trade + More
Monday, June 24th 2024
🇦🇺 Australia Westpac Consumer Confidence Change, June
Tuesday, June 25th 2024
Wednesday, June 26th 2024
🇩🇪 Germany GfK Consumer Confidence, July
Thursday, June 27th 2024
🇺🇸 US Durable Goods Orders, May
🇺🇸 US GDP Growth Data, Q1
Friday, June 28th 2024
🇫🇷 France Inflation Data (Preliminary), June
🇮🇹 Italy Inflation Data (Preliminary), June
🇺🇸 US Core PCE Price Index, May
🇺🇸 US Personal Income & Spending Data, May
Monday, July 1st 2024
🇯🇵 Japan Consumer Confidence, June
🇩🇪 Germany Inflation Data (Preliminary), June
🇺🇸 US ISM Manufacturing PMI, June
Tuesday, July 2nd 2024
🇪🇦 Euro Area Inflation Data, June
🇺🇸 US JOLTs Job Openings, May
Wednesday, July 3rd 2024
🇨🇦 Canada Balance of Trade, May
🇺🇸 US ISM Services PMI, June
🇦🇺 Australia Balance of Trade, May
Friday, July 5th 2024
🇨🇦 Canada Unemployment Data, June
🇺🇸 US Employment Data, June
🇨🇦 Canada Ivey PMI s.a, June
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